First Eagle Investment Management LLC Has $3.05 Million Stock Holdings in Interface, Inc. $TILE

First Eagle Investment Management LLC cut its stake in shares of Interface, Inc. (NASDAQ:TILE) by 6.5% during the 2nd quarter, Holdings Channel reports. The fund owned 145,543 shares of the textile maker’s stock after selling 10,074 shares during the period. First Eagle Investment Management LLC’s holdings in Interface were worth $3,046,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in Interface by 56.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,649 shares of the textile maker’s stock worth $291,000 after buying an additional 5,299 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Interface by 277.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 97,270 shares of the textile maker’s stock valued at $1,930,000 after buying an additional 71,476 shares in the last quarter. XTX Topco Ltd purchased a new stake in Interface during the 1st quarter worth about $303,000. Jupiter Asset Management Ltd. boosted its holdings in Interface by 28.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 343,102 shares of the textile maker’s stock valued at $6,807,000 after purchasing an additional 76,103 shares during the period. Finally, Public Sector Pension Investment Board grew its holdings in shares of Interface by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 184,887 shares of the textile maker’s stock worth $3,668,000 after purchasing an additional 39,595 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Insider Transactions at Interface

In related news, VP James Poppens sold 5,000 shares of Interface stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $26.14, for a total value of $130,700.00. Following the completion of the transaction, the vice president owned 124,616 shares in the company, valued at approximately $3,257,462.24. This trade represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 25,000 shares of Interface stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $26.95, for a total transaction of $673,750.00. Following the transaction, the chief financial officer directly owned 145,403 shares of the company’s stock, valued at $3,918,610.85. The trade was a 14.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.30% of the stock is currently owned by company insiders.

Interface Stock Down 0.1%

Shares of TILE stock opened at $25.76 on Friday. The company’s fifty day moving average price is $27.62 and its 200-day moving average price is $23.82. Interface, Inc. has a one year low of $17.24 and a one year high of $30.20. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 1.04 and a beta of 2.07. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.88 and a quick ratio of 1.59.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Friday, October 31st. The textile maker reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.15. Interface had a return on equity of 18.97% and a net margin of 7.08%.The firm had revenue of $364.53 million during the quarter, compared to analyst estimates of $358.19 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Interface has set its FY 2025 guidance at EPS. Sell-side analysts expect that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, August 29th. Interface’s dividend payout ratio is 4.17%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wall Street Zen raised Interface from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Barrington Research restated an “outperform” rating and set a $32.00 target price on shares of Interface in a report on Friday, October 31st. Weiss Ratings upgraded shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Finally, Zacks Research raised Interface from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $32.00.

About Interface

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.